Parap (postcode 0820) is a compact suburb in Northern Territory within the Darwin local government area. It is home to about 2,819 residents, with a mix of young professionals and families and a median age of 36. Households earn a median income of $116K per year, with an average household size of 2.3 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.4% year-on-year at the LGA level. NT employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. NT also had 4 Commonwealth-backed major projects under construction, 3 underway, and 5 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, managers, clerical & administrative. Employment in the area leans toward public admin & safety and healthcare. The top ancestries reported are English, Australian, Irish.
Median house prices in Parap stand at $945,000, having climbed sharply by 14.5% over the last twelve months. Units have a median price of $365,000 (+12.3% YoY). The median weekly rent is $415 (Census 2021). This gives a gross rental yield of approximately 2.3%. The median monthly mortgage repayment is $2,232.
Parap is served by 1 school, including 1 primary. The average ICSEA score is 1066, which is above the national average of 1,000. Public transport access includes 12 bus stops.
From an investment perspective, Gross rental yield sits at around 2.3% (low yield). Property prices are above the state median ($945K/$711K), placing it in the premium segment. The price-to-income ratio of 8.1x is considered moderate. House prices have moved +14.5% year-on-year. Population growth of +1.4% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.